City National Bank of Florida (CNB) , w h i c h began as a single branch in Miami Beach, continues to demonstrate strength and stability after 65 years of service to this community and the rest of South Florida. City National reported earnings of $12.3 million for the 2011 second quarter, a result of CNB’s responsible growth and exceptional employee and client retention.
The bank’s second quarter net income was 30 percent higher than its 2011 first quarter figure and is CNB’s highest since 2008. Through the first half of 2011, CNB has earned $21.6 million. And, the bank is lending to help get South Florida back on solid economic ground.
“Our diversification strategy continues to gain momentum,” said CNB President and Chief Executive Officer Jorge Gonzalez. “We closed more than $400 million in new loan commitments through June 30 in a well-balanced portfolio of residential, small business, corporate banking and real estate loans.”
The bank has long been regarded as a leading commercial real estate lender. However, in the past few years, CNB has made a strategic decision to expand its product and service offerings in response to the needs of its clients and to accommodate a larger cross section of businesses and residents. This diversified approach focuses on four primary banking lines: real estate and private banking, which are historical CNB ness banking and personal banking. The new services greatly expand the bank’s outreach to more community members.
According to Gonzalez, CNB’s personalized approach to client service is what differentiates the bank from competitors. As a result, City National’s best-in-class client experience begins with, and ends with, CNB’s employees as they keep their focus on their clients.
CNB’s friendly and experienced bankers know every client and personalize their every banking experience. Decisions are made locally by bankers who know you – one of the primary reasons why CNB is widely considered to provide the best-in-class customer service.
“Our bankers are some of the best in the business,” Gonzalez said. “They know the needs of Miami Beach and all of South Florida. We keep our decisions local and personal, remain committed to our core values, and emphasize the backto- basics banking for which City National has always been known.”
Like Miami Beach, CNB knows change is necessary to expand and continue serving local residents and businesses. The bank has grown to 26 banking centers in Miami-Dade (three in Miami Beach: South Beach, 41st Street and 71st Street), Broward, Palm Beach, Martin, and Orange counties. The bank plans to open another office in South Miami in early 2012. In June, CNB expanded its corporate operations to the 1450 Brickell tower in the heart of Miami’s renowned financial district. Additional expansion is planned in western Miami-Dade, Broward and Palm Beach counties to complement the current banking network.
Backed by Caja Madrid, one of Spain’s oldest and largest financial institutions, CNB is the bank to which Floridians have turned since 1946. It is the fourth-largest financial institution in the state with more than $3.8 billion in assets, $2.8 billion in deposits and $1.8 billion in loans. CNB prides itself on solid asset quality and superior capitalization, as well as being large enough to provide clients what they want.